Rupee tumbles 2.5% against dollar to close at 67.65
Published: 03rd September 2013 06:18 PM
Last Updated: 03rd September 2013 06:18 PM
Indian rupeeplunged on Tuesday against the US dollar. A
combination of sell-off in leading emerging market currencies and
fresh jitters in the Middle East pushed rupee lower.
Rupee went down 163 paise or 2.46% against US dollar to settle
at 67.65 on Tuesday. It opened lower by 28 paise or 0.42% against
US dollar at Rs 66.30. It touched a high of 66.25 and low of
Anindya Banerjee, currency analyst, Kotak Securitiessaid, "Over
the near-term, fears of Fed tapering and tensions in Middle East
could rupee under pressure, with risk emerging for a sell-off
beyond 69.00 levels on spot."
On Monday, rupee settled lower 31 paise or 0.47% against US
dollar at Rs 66.02.The Reserve Bank of India (RBI) on Tuesday fixed
reference rate of rupee for US dollar at 66.8875 compared with
65.8608 on Monday.